Cape Times (Digital)

Cape Times (Digital)

1 Issue, 2023-10-10

Angola mulls slowing fuel subsidy removal

LUANDA: Angola may slow the removal of fuel subsidies to avoid a repeat of protests in June over a near-doubling in petrol prices in which at least five people were killed, the finance minister said yesterday. No decision has been made yet in ongoing internal discussions on whether to extend the end-2025 deadline for phasing out the subsidies, Vera Daves de Sousa said on the sidelines of the International Monetary Fund and World Bank’s Annual Meetings. Squeezed by soaring debt costs and high pump prices, governments across Africa are trying to dismantle the costly benefits, but the moves are proving unpopular and have sparked discontent. | Reuters…
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Cape Times (Digital) - 1 Issue, 2023-10-10

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